The Long & Foster Market Minute

Focus On: Severna Park Housing Market June 2019

Zip Code(s): 21146
Units Sold
46
Active Inventory
105
Median Sale Price
$582,500
Days On Market
45
Down -8%
Vs. Year Ago
Down -25%
Vs. Year Ago
Up 10%
Vs. Year Ago
Up 5%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in June, with 46 sold this month in Severna Park Real Estate versus 47 last month, a decrease of 2%. This month's total units sold was lower than at this time last year, a decrease of 8% versus June 2018.

Active Inventory
Versus last year, the total number of homes available this month is lower by 35 units or 25%. The total number of active inventory this June was 105 compared to 140 in June 2018. This month's total of 105 is lower than the previous month's total supply of available inventory of 122, a decrease of 14%.

Median Sale Price
Last June, the median sale price for Severna Park Homes was $531,250. This June, the median sale price was $582,500, an increase of 10% or $51,250 compared to last year. The current median sold price is 15% higher than in May.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
63
Current Contracts
55
Sold Vs. List Price
98.4%
Months of Supply
2.3
Down -17%
Vs. Year Ago
Up 15%
Vs. Year Ago
No Change
Vs. Year Ago
Down -19%
Vs. Year Ago

Months of Supply
In June, there was 2.3 months of supply available in Severna Park, compared to 2.8 in June 2018. That is a decrease of 18% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 63 homes newly listed for sale in Severna Park compared to 76 in June 2018, a decrease of 17%. There were 55 current contracts pending sale this June compared to 48 a year ago. The number of current contracts is 15% higher than last June.

Sale Price to List Price Ratio
In June, the average sale price in Severna Park was 98.4% of the average list price, which is similar compared to a year ago.

Days on Market
This month, the average number of days on market was 45, higher than the average last year, which was 43, an increase of 5%.

The Long & Foster Market Minute Severna Park are defined as properties listed in zip code/s 21146.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.